Stocks in Play for August 4 (AIB, DRYS, SIRI)

Sirius XM Radio (SIRI) – Looking at the technical chart the stock looks like it is forming a symmetrical triangle but it is not yet ripe for the breakout.In fact, another pattern that might happen for this stock is for it to just form an upward channel as we can above without having a proper breakout of the symmetrical triangle. But either way, we may be looking at an upward trend. All the technical indicators are in favor of an upward price movement: all the major moving averages are below the current price, MACD has generated a buy signal and is currently above the “0” line.

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This stock chart looks very enticing. We now have a small ascending triangle broken with MACD above signal line and above zero line, which is a bullish indicator. In addition to that we also have the price currently above the 50-day MA. Allied Irish Banks (AIB) could be a good stock to trade on Wednesday, and I will be buying the stock once it breaks above Tuesday’s high. Watch AIB closely because when it breaks, it will move quickly.

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The stock was on my list a few days ago, and has been slowly trying to make a move up. DryShips (DRYS) has to break above $4.79, for it to pick up momentum. Watch the stock closely on Wednesday, and once it breaks through $4.79, get ready to enter the trade.

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Other stocks to watch:

CTIC – Cell Therapeutics – As long as the stock holds above the $.40 support level the intermediate-term picture should remain positive. Fresh exposures may be considered on a move past $.50.

BAC – Bank of America Corporation – Watching for a close above $14.65
MOT- Motorola – Watching for a close above $7.69
BANR – Banner Corporation – Watching for a close above $2.5
AAPL – Apple – Watching for a close above $265.99
SOMX – Somaxon Pharmaceuticals, Inc. – Resistance is located at $4.09 ( 200 MA ) if the stock breaks this level, it has a chance to run.
JDSU – JDS Uniphase Corporation – Resistance remains at $11.36 and I would be a buyer on a break above that level for a trade.
AMD – Advanced Micro Devices Inc. – The stock continues the downtrend, so look for futher downside activity on a break under 7.41.

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don’t consider buying or selling any stock without conducting your own due diligence.